CapitaLand China Trust · SGX:AU8U
CapitaLand China Trust — CapitaRetail China Trust — Shareholder Meeting (April 2010)
26 slides from CapitaLand China Trust's shareholder meeting presentation, Apr 19, 2010
Slide 1: CapitaRetail China Trust (CRCT) Annual General Meeting
CAPITARETAIL CHINA TRUST (CRCT) First China Shopping Mall S-REIT Annual General Meeting 19 April 2010
Slide 2: Disclaimer
Disclaimer This presentation shall be read in conjunction with paragraph 8 of CRCT’s Unaudited Financial Statement and Distribution Announcement for Fourth Quarter 2009. This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performa
Slide 3: Contents
Contents 1. CRCT Introduction 2. Business Overview 3. FY2009 Results 4. Key Strategies in FY2010 2 Annual General Meeting *19 April 2010*
Slide 4: CRCT Introduction
CRCT Introduction 3 Annual General Meeting *19 April 2010*
Slide 5: Singapore's First China Shopping Mall S-REIT
Singapore’s First China Shopping Mall S-REIT (change city name) Geographically diversified portfolio in 1st, 2nd & 3rd-tier cities across China Well-placed to tap rising consumption growth Saihan Mall, Huhhot Portfolio 4-level shopping mall GRA: 41,938 sq m 8 shopping malls Total GRA: 495,940 sq m A
Slide 6: Balanced Property Portfolio
8 quality shopping malls located in large population catchment areas Balanced Property One-stop family-oriented Portfolio shopping, dining and entertainment destinations One-stop family-oriented shopping, dining and entertainment destinations One-stop family-oriented shopping, dining and entertainme
Slide 7: Business Overview
Business Overview 6 Annual General Meeting *19 April 2010*
Slide 8: Gross Revenue and NPI Growth
Gross Revenue and NPI Growth Gross Revenue (S$ million) Net Property Income (S$ million) 140.0 90.0 120.3 80.0 77.1 120.0 108.9 69.5 70.0 100.0 60.0 80.0 71.9 50.0 46.5 60.0 40.0 30.0 40.0 20.0 20.0 10.0 0.0 0.0 2007 2008 2009 2007 2008 2009 7 Annual General Meeting *19 April 2010*
Slide 9: Distribution Growth
Distribution Growth Distributable Income (S$ million) DPU (¢) 60.0 9.00 8.14 50.6 8.00 7.53 50.0 45.9 7.00 6.72 40.0 6.00 32.0 5.00 30.0 4.00 20.0 3.00 2.00 10.0 1.00 0.0 0.00 2007 2008 2009 2007 2008 2009 8 Annual General Meeting *19 April 2010*
Slide 10: Total Unitholder Return
Total Unitholder Return Total Unitholder Return Total Unitholder Return Since For FY20091 Listing in December 20062 Total Return Total Return +119.7% +33.1% Distribution Yield Total Distribution Yield (FY2007 – FY2009) 6.4% 19.8% Unit Price Appreciation Unit Price Appreciation +113.3% +13.3% 1. Base
Slide 11: Performance of CRCT vs benchmark indices
Performance of CRCT vs benchmark indices % Change in unit Price/Index Value 140.0 CRCT outperformed Straits Times Index, FTSE REIT Index and Shanghai 120.0 Composite Index in FY2009. 100.0 80.0 60.0 40.0 20.0 0.0 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec
Slide 12: Comparative Yields CRCT in FY2009
Comparative Yields CRCT in FY2009 Comparative Yields (%) 7.0 6.41 6.0 CRCT offered attractive yields vs alternative investments. 5.0 4.0 4.0 3.6 2.9 3.0 2.7 2.5 2.0 1.0 0.5 0.0 CRCT Singapore 10-yr China 10-yr Govt FSSTI Yield FSTREI Yield CPF Ordinary 12-mth Fixed Govt Bond Yield Bond Yield Account
Slide 13: Turnover & Month-End Closing Price
Turnover & Month-End Closing Price Turnover Month-End Closing (Million Units) Unit Price (S$) 90.0 1.60 1.39 80.0 1.40 1.28 1.25 1.22 70.0 1.18 1.17 1.13 1.20 1.07 60.0 1.00 50.0 0.80 0.73 0.74 0.80 40.0 0.67 0.60 0.60 30.0 0.40 20.0 10.0 0.20 0.0 0.00 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-0
Slide 14: Portfolio Shopper Traffic
Portfolio Shopper Traffic FY2009 shopper traffic up 3.8% over FY2008 500,000 Shopper Traffic (No. of Shoppers) 400,000 300,000 200,000 100,000 0 1Q 2Q 3Q 4Q Total 2008 2009 Includes only shopper traffic recorded at Xizhimen Mall, Wangjing Mall, Qibao Mall and Xinwu Mall. Saihan Mall does not have tr
Slide 15: FY2009 Results
FY2009 Results 14 Annual General Meeting *19 April 2010*
Slide 16: FY2009 – A Year of Achievements
FY2009 – A Year of Achievements Achieved strong organic growth CRCT’s best year since listing in December 2006 Gross Revenue (S$ million) Gross Revenue (RMB million) +10.5% +4.9% (2009: 120.3) (2009: 564.2) (2008:108.9) (2008: 537.6) Net Property Income (S$ million) Net Property Income (RMB million)
Slide 17: New Leases & Renewals for FY2009
New Leases & Renewals for FY2009 Rentals declined 2.9% over preceding rates; renewal pressures bottomed out in 3Q 2009 Variance over No. of new preceding rental 2, 3 Property leases/renewals1 (%) Xizhimen Mall 87 - 6.1 Wangjing Mall 118 - 4.4 Jiulong Mall 1 +6.0 Qibao Mall 53 +0.5 Xinwu Mall 62 +40.
Slide 18: Portfolio Occupancy Rates
Portfolio Occupancy Rates Occupancy rates remained stable year-on-year; Saihan Mall had more than 90% committed leases after completion of Phase 2 AEI works As of As of As of As of As of 31 Dec 081 31 Mar 091 30 Jun 091 30 Sep 091 31 Dec 091 Xizhimen Mall 96.7% 95.7% 95.4% 96.8% 94.8% Wangjing Mall
Slide 19: Saihan Mall Phase 2 AEIs Update
Saihan Mall Phase 2 AEIs Update Phase 2 enhancement works on level 4 largely completed as at 31 Dec 2009. More than 90% of committed leases. • New committed leases include renowned local cinema operator renovating space at level 4 to introduce first modern cinema in locality and popular local F&B co
Slide 20: Saihan Mall Phase 2 AEIs Update
Saihan Mall Phase 2 AEIs Update Level 1 Introduced sports & outdoor apparel section (with brands like Nike Factory outlet, Adidas, Li-Ning, Puma, etc Level 3 Positioned as children and household sector; with 200 sq m playground and popular local maternity / children’s products brands Level 4 Positio
Slide 21: Xizhimen Mall Update
Xizhimen Mall Update • More than 60% of Phase 2 area operation since 4Q2009. • With the opening of Beijing Hualian Supermarket in basement, shopper traffic increased by more than 10%. • The leasing of the remaining space in Phase 2 will be timed with the opening of the subway and railway stations’ c
Slide 22: Debt Capital Information (as at 31 Dec 2009)
Debt Capital Information (as at 31 Dec 2009) Debt Maturity Profile Key Statistics of CRCT Anzhen - Secured (Variable Rate) – Onshore loan Trust - Unsecured (Variable Rate) – Offshore loan Gearing Ratio 33.6% Trust - Unsecured (Fixed Rate) – Offshore loan S$406.4 million Interest Cover 8.0 times Vari
Slide 23: Key Strategies in FY2010
Key Strategies in FY2010 22 Annual General Meeting *19 April 2010*
Slide 24: Key Strategies in FY2010
Key Strategies in FY2010 • Drive operating performance • Improve tenant mix to meet shoppers’ demands • Continue with proactive capital management 23 Annual General Meeting *19 April 2010*
Slide 25: Growth underpinned by strong economic fundamentals
Growth underpinned by strong economic fundamentals For 2009, China’s GDP grew by 8.7% and total retail sales of consumer goods (excluding motor vehicles) grew by 14.1%. China’s National Bureau of Statistics expects GDP in 2010 to surpass 2009. Substantial potential growth in retail sales China retai
Slide 26: Annual General Meeting *19 April 2010*
25 Annual General Meeting *19 April 2010*
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